Gen Zs can't afford having friends, study says

Buddy fees are taking a toll on Gen Zs and millennials.

Having chums comes at a high cost for frugal 20-somethings , and their millennial counterparts, who can ill afford splurging on social outings, but would rather spend the dough than face loneliness and FOMO — the fear of missing out — according to new jaw-dropping data.

“While three out of five young adults admit social spending affects their financial goals, 69% still prioritize in-person connection with friends at least weekly,” revealed researchers of “ The Friendship Tab ” survey, commissioned by Ally Financial, an all-digital bank. 5

The money mavens polled 1,000 Zoomers and millennials ranging in age from 18 to 44, and dissected their spending habits to better understand “the financial consequences of friendship.”